7077 W Country Club Dr N

Desoto Acres, FL 34243

$299,900D-

3 bd · 2.0 ba · 1,798 sqft · Built 1978 · Condo · Pending · 183 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,179/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$508
• HOA: −$538
• Vac / Maint / Mgmt: −$668
• Net cashflow: $-107/mo
• Annual: $-1,285/yr
• Cap rate: 5.86%
• Cash-on-cash: -1.53%
• DSCR: 0.93
• 1% rule: 1.06%
• Cash to close: $83,972

Investor read

• This is a 3-bed/2.0-bath condo listed at $300k.
• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (6.3% below list).
• Meets the 1% rule at list price ($3k rent vs $300k).
• It's been on market 183 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Marjorie G. Kinnan Elementary School (math 60% / reading 49%, grade C, #892 of 2,144 statewide, top 44%, 516 students, 73% FRL); Braden River Middle School (math 54% / reading 47%, grade C, #246 of 571 statewide, top 44%, 810 students, 58% FRL); Braden River High School (math 44% / reading 52%, grade D, #201 of 667 statewide, top 30%, 1,774 students, 45% FRL).
• Market conditions: Rents falling (-4.1%/yr); 388 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $75k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $258k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 4.0% in Desoto Acres — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• At $3,179/mo this rent would consume 47% of the median local household income ($81k/yr) (locally 1138% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?